Industry Insights

The global wireless display market size was valued at USD 3.0 billion in 2018. It is anticipated to expand at a CAGR of 11.2% from 2019 to 2025. Increase in preference for visual advertising and promotional strategies in commercial spaces has boosted the use of different wireless display technologies.

Marketing practices are continuously evolving. Introduction of streaming solutions including adapters, software suites, and other streaming devices has transformed the means of entertainment, communication & collaboration, and learning in both residential & commercial applications.

Several organizations across the globe are using various wireless streaming devices to effectively communicate and collaborate with their stakeholders, including employees, customers, and investors. Furthermore, streaming solutions enable centralization of data access and control, owing to which these solutions are widely used for employee training using interactive techniques and management of workforce engagement across different organizational levels.

Increasing adoption of wireless display technologies in residential applications for streaming online content or mirroring content from external sources is projected to stoke the growth of the market. Availability of multiple wireless displays options at low costs, rising disposable income, and growing preference to adopt evolving technologies in consumer electronics are further poised to bode well for the market over the forecast period.

Moreover, government initiatives and strategies in various countries, including the U.K., China, and India, aim to improve the adoption rate of digital multimedia devices. For instance, the Government of India recently launched Smart Cities Mission that promotes the use of digital multimedia devices. These include LED unipoles, variable messaging signboards, and interactive wayfinding devices, which have increased the demand for wireless display solutions in public-private projects across the country.

Wireless display solution providers are continually making substantial investments in product innovations that are likely to aid the sale of low-cost streaming devices over the forecast period. These streaming devices offer a high degree of digital convergence and ease of setting up conference rooms over wired devices. These benefits are expected to propel the market over the forecast years.

Surging demand for wireless display technologies in a range of next-generation applications such as virtual reality/augmented reality (VR/AR), gaming, and digital signage is estimated to fuel growth prospects. Thus, factors such as increasing penetration of smartphones, rising adoption of digital learning devices, and burgeoning popularity of wireless streaming devices in commercial spaces can shape the future of the market.

However, high manufacturing costs and technical complexities are anticipated to keep the market from realizing its utmost potential. Moreover, lack of wireless infrastructure and connectivity issues in developing regions, including Asia Pacific and Middle East & Africa, can inhibit the growth of the market.

Offering Insights

By offering, the market has been bifurcated into hardware and software & services. Hardware is the primary component of wireless display set-up and therefore, companies are focusing on updating features of display devices. In 2018, the hardware segment accounted for over 63.0% of the overall market revenue. Availability of various devices, such as adapters, dongles, and other streaming devices at a low cost has been contributing to the growth of the segment.

Streaming software solutions, including software suites, operating systems (OS), and streaming services, delivered through various cloud platforms. These streaming software solutions offer multiple benefits concerning operational costs, easy upgradation, seamless integration, flexibility, scalability, and other parameters. The software & services segment is estimated to register the highest CAGR of 12.3% during the forecast period. This growth can be attributed to continuous innovations in software suites that cater to dynamic business environments.

End-Use Insights

Streaming devices are used in commercial spaces across various sectors, such as private, education, healthcare, and government. Growing popularity of wireless technologies, soaring need for effective communication platforms, and interactive workforce engagement are expected to stoke the growth of the wireless display market over the forecast period. The commercial end-use segment is likely to expand at a higher CAGR during the forecast period.

The residential segment commanded over 55.0% of the overall revenue in 2018. It is anticipated to post a CAGR of 9.8% over the forecast period. Higher adoption of consumer electronic devices equipped with interactive wireless technologies has been supplementing the growth of the segment. Streaming devices enabled with wireless technologies provide an enhanced user experience, on-demand entertainment, and cost-effective engagement platforms. Additionally, these devices are equipped with high-resolution displays and are easily compatible with other consumer electronic devices. Thus, the abovementioned factors are projected to bolster the demand for wireless display solutions in the residential segment.

Technology Insights

The Google Cast segment is poised to register the highest CAGR of approximately 12.0% over the forecast period. Consumers prefer low-cost devices that are easily available as they are suitable for diverse applications, such as personal, business, and gaming. Google Cast provides better compatibility between low-cost consumer electronic devices and various resolution systems, including low, HD, and Ultra-HD systems. These benefits are likely to support the growth of the segment over the coming years.

In 2018, Airplay held a substantial share in the global market. It is expected to witness a CAGR of 11.0% during the same period. Airplay is estimated to gain more popularity in gaming applications that require multiple screens and high-end graphics over the coming years. Airplay operates on iOS that provides attractive user interface with easy-to-understand control functions. While Google Cast supports cloud streaming applications, Airplay supports device-to-device streaming applications that involve the use of hardware control devices.

Regional Insights

In 2018, North America and Europe market represented a cumulative share of more than 60.0% of the overall market revenue. Extensive use of consumer electronics including smartphones, smart TVs, and laptops is one of the primary growth stimulants for the market in these regions. However, the North America and European markets are mature, with most product categories at or near saturation.

Sales of streaming devices in Asia Pacific are anticipated to rise at the highest CAGR over the forecast period. This growth can be ascribed to increasing urbanization and growing awareness of technology across various industries in the region. Furthermore, several countries such as China, India, and Japan are adopting digital strategies related to the use of digital solutions in the public sector. Introduction of government policies aimed at increasing the ease of wireless connectivity is projected to augment the sales of display technologies in the region.

Wireless Display Market Share Insights

The market is highly competitive with presence of many local players and a limited number of large players across the globe. Some of the prominent players are Apple Inc.; Google LLC; Intel Corporation; Marvell Semiconductor Group Ltd.; MediaTek Inc.; and Roku, Inc. These key market incumbents are engaging in substantial investments aimed at market growth in different geographies and expansion of their product portfolio, along with entering partnerships for product innovation.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For the purpose of this study, Grand View Research has segmented the global wireless display market report on the basis of offering, end use, technology, and region: